Wall Street is expected to open lower on Friday, following in the footsteps of European stock markets that experienced a gentle decline on Thursday. However, the S&P 500 and Nasdaq opened with a small rise, while the Dow Jones was down 0.1 percent. Nvidia was up 1.6 percent, Tesla up 0.9 percent, and Micron down five percent.
Micron’s stock price took a hit despite posting slightly better-than-expected results for the previous quarter. The guidance for the next quarter’s revenue was moderate, causing some concern among investors. Micron has risen more than 60 percent this year due to increased demand for memory chips thanks to developments in artificial intelligence.
In the United States, new unemployment compensation applications were slightly below expectations, indicating a potential slowdown in the job market. Durable goods orders and wholesale stocks both showed growth, but the final GDP figures for the first quarter remained steady at 1.4 percent. Investors will closely monitor PCE deflator numbers in the US for inflation trends as they assess the overall health of the economy.